By 2020 Palm Oil could Become a 84 Million Tonnes Market, Represent 45% of The Global Vegetable Oil Market, says Frost & Sullivan
JAKARTA, Indonesia, May 20, 2015 (PR Newswire Europe via COMTEX) - Palm oil finds a variety of uses covering food, industrial, and fuels sectors, making it a very versatile crop. Palm oil is predominantly consumed for food applications. In the last decade, palm oil consumption for Biofuel has increased considerably.
Global palm oil production is expected to grow at a CAGR (Compound Annual Growth Rate) of 5.9% in the period 2011 to 2020 to reach 84.0 million MT; majority of the growth is expected to come from Indonesia with a CAGR of 7.8 percent, and production in Malaysia is expected to expand only by 2.7 percent.